HECM (Home Equity Conversion Mortgage) Loan – also known as a Reverse Mortgage – can be an important financial option for seniors, their family members, and financial professionals to consider as part of an overall retirement planning strategy or to help meet cash flow needs.
Over the Past 50+ years the Reverse Mortgage has positively grown in popularity and has developed into an intelligent option to increase the financial independence for homeowners 62 years of age or older.
No Monthly Mortgage Payment
Allows you to stay and age in the comfort of your home and maintain the title
Turn your home's equity into cash that you can access
The available funds from your Reverse Mortgage line of credit that are not used, is guaranteed to grow annually
A Non-Recourse Loan since it’s Federally Insured by FHA (Federal Housing Administration)
Single Family Residence
2-4 Unit Owner Occupied
Manufactured Home that meets FHA requirements
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What is a Reverse Mortgage Refinance?
HECM (Home Equity Conversion Mortgage) otherwise known as a Reverse Mortgage is a specific mortgage tool designed to help home owners age 62 years and older to access their homes equity and convert it into cash to help supplement their retirement needs. You’ve worked hard to pay down or pay off your home, it’s important to know that you have a mortgage tool designed to help you with your cash flow and retirement needs.
The Lower-Cost Reverse Mortgage Refinance offered by Tony Meuers at Finance of America Mortgage offers all the traditional features and benefits of a reverse mortgage with less closings costs* You could receive a credit at closing that could cover part of your closing costs, which will directly increase your available cash from your Reverse Mortgage.